CBRE: IE is Home of the Nation’s “Youngest” Warehouse Inventory
Continuing industrial demand and the advanced age of U.S. warehouses, 43-years on average, is spurring record construction activity, as e-commerce and retail distributors want larger, more modern facilities. A recent report from CBRE indicates that the Inland Empire stands out as the youngest average warehouse age among the nation’s top 15 industrial markets.
“The Inland Empire market has rapidly developed over the last 35 years due to the availability of 30,000 acres of industrially zoned land near the Ports of Los Angeles and Long Beach. Demand has exploded in this region with the outsourcing of manufacturing in Asia,” said CBRE EVP Dan de la Paz.
The Inland Empire average warehouse age is 28 years, easily the youngest in the nation. Phoenix is next at 33 years, while Los Angeles is 10th at 47 years. Markets with younger inventory tend to be those with available and affordable land near large population centers.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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